Life Insurance Canada News:

News from 2011

New question in Life Insurance FAQ

New question in Life Insurance FAQ: 15 years ago my then husband bought insurance policy and named me my son and his daughter from previous marriage as beneficiaries . I have been paying the premuim through my bank account. We divorced five years ago. I continue paying for the premuim. He never change the beneficiaries. His current wife hates me. What are my rights to claim this policy and can the wife claim this policy even she is not named beneciary. The policy owner controls ...
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Life Insurance for Accountants

Life Insurance for Accountants

There are approximately 361,128 accountants working across Canada, according to statistics provided by the Canadian Government. They make, on average, a salary of $26.27 an hour. Typically, accountants are the arbiters of our financial future, determining our budgets and how much money we take in versus how much we take out. Life insurance can cushion them and their families for their own financial future, and it's usually divided into two categories. Term Insurance starts off lower ...
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Children’s Term Life Insurance

Children’s Term Life Insurance

Cover your child with Youth Plus. Photo by Ted Bongiovanni Assumption Life introduced a children's term life policy called Youth Plus. The policy is available to applicants ages 15 days old to 17 years old. The premiums remain level for the insured's lifetime, while the face amount can range from $35,000 to $175,000. There's an annual policy fee of $40 and a built-in critical illness benefit. The benefit pays out if the insured is diagnosed with one of the following critical ...
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How to Sell Your Book of Business

How to Sell Your Book of Business

As insurance and investment advisors reach retirement age, they start thinking about divesting their books of business and selling it to the next advisor who can manage the needs of their various clients. However, there are a few things every advisor should know going in when they're about to take the plunge and sell their book. Do you want to actively market yourself? This is the first question advisors and financial planners need to ask themselves, according to Cameron D. Jacox and ...
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Life Insurance for Doctors

Life Insurance for Doctors

According to the Canadian Government, there are 111,843 doctors working across the country. GPs and family physicians make an average of $79 an hour, while specialists take in about $117 an hour. All of them would be better served by life insurance to protect the future of their families. Life insurance can be broken down into two categories, Term insurance and Permanent Insurance. (more…)
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Assumption Life Youth Plus

Assumption Life Youth Plus

Assumption Life recently introduced Youth Plus. It is a term life insurance product designed for children. The policy is available to insure children between 15 days old and 17 years of age. The features on the policy include the following: 1. Term life insurance until the child has turned 25 2. Guaranteed sum insured payable upon death 3. Non-participating insurance (no dividend is payable) 4. Guaranteed level premiums, which means the premiums remain the same for the duration of ...
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What To Do Before Your Life Insurance Medical Test

What To Do Before Your Life Insurance Medical Test

What you need to do before your medical tests. When applying for life insurance, the insured often has to complete medical tests. These medical tests can include blood pressure checks, blood profile tests, urine analyses, or ecocardiograms. Though these tests are harmless, they should still be taken seriously and adequately prepared for. Some of the things the insured should keep in mind before completing their life insurance medical tests are the following: (more…)
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Standard Life will No Longer Sell Individual Life Insurance and Critical Illness Policies

Standard Life will No Longer Sell Individual Life Insurance and Critical Illness Policies

Standard Life will not sell individual life insurance in the new year. Effective January 1, 2012, Standard Life will no longer sell individual life insurance and critical illness policies. However, the company will still serve those holding existing policies and applications received right up until December 31 and will still own that block of business after January 1. Its staff will continue to service these policies and give clients the opportunity to increase coverage, add coverage, ...
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Life Insurance for Lawyers

Life Insurance for Lawyers

According to the Canadian Government, there are approximately 77,935 lawyers working across Canada, 93% of whom work full-time and make a median hourly wage of $40 — exactly double all the other occupations. This translates to just under 80,000 lawyers who could potentially need life insurance. Life insurance can be broken down into two categories Term insurance and Permanent Insurance. Term insurance starts off lower in costs and increases as the insured gets older. The length ...
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Canada’s Net-Worth Tops the United States

Canada’s Net-Worth Tops the United States

As reported in the December/January 2012 issue of Money Sense, Canada’s average median citizen's net worth has topped the United states. A Credit Suisse 2011 Global Report found that Canadians are now officially wealthier than Americans. The median net-worth per adult in Canada is $89,014 US, but in America, it's $52,752 US. The median amount represents an individual with a net worth in the middle range relative to the rest of the country. However, if you look at the average net ...
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